The Farmer's Weblog

Friday, April 4, 2003

Cotton Marketing Weekly
Cotton futures regained most of the momentum lost last week, although the nearby May contract was not able to climb above the 58.50 cent level. Therefore, the price lid sitting at 60 cents is proving hard to penetrate. Nevertheless, old crop futures should move above that mark as new crop planting advances. Longer term, old crop futures should be well supported at 57 cents with the possibility that July can move to the 63-cent level. Exports, mill call sales and a fresh influx of speculative buying will provide bulls with the necessary ingredients.
8:28:28 PM    comment []

AMS Cotton Report
Spot cotton trading was very light in the Desert Southwest (DSW). Supplies remained moderate. Demand was light. Agents for Central American mills purchased a light volume of mixed grades 11 and 21, leaf 2 and better, staple 35, and mike 37-49 for April 2003 shipment. No purchases for domestic mills were reported. The young cotton plants were off to a good start in the Yuma County, Arizona area. Cotton planting and field preparation continued; however, planting was slowed during the week by cooler weather. Ginning was completed.
5:06:17 PM    comment []

This Page was last updated: 12/29/03; 3:38:19 PM
Copyright 2003 Russell Gum
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